Analysts Expect Synchronoss Technologies, Inc. (SNCR) Will Post Quarterly Sales of $86.38 Million

Brokerages expect that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will announce sales of $86.38 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Synchronoss Technologies’ earnings. The lowest sales estimate is $86.26 million and the highest is $86.50 million. The company is expected to announce its next quarterly earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that Synchronoss Technologies will report full-year sales of $330.12 million for the current financial year, with estimates ranging from $330.00 million to $330.24 million. For the next year, analysts expect that the firm will report sales of $325.79 million, with estimates ranging from $308.00 million to $343.58 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Synchronoss Technologies.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings data on Wednesday, November 7th. The software maker reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.47). The company had revenue of $83.30 million for the quarter, compared to analysts’ expectations of $83.00 million. Synchronoss Technologies had a negative return on equity of 48.08% and a negative net margin of 36.27%. Synchronoss Technologies’s quarterly revenue was down 8.5% compared to the same quarter last year.

A number of research firms recently commented on SNCR. TheStreet downgraded shares of Synchronoss Technologies from a “c-” rating to a “d” rating in a report on Monday, October 1st. Zacks Investment Research raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating in a report on Saturday, September 29th. ValuEngine raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Stifel Nicolaus downgraded shares of Synchronoss Technologies from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $8.00 to $3.00 in a report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Synchronoss Technologies currently has a consensus rating of “Hold” and an average price target of $6.38.

SNCR stock traded down $0.07 during trading on Monday, reaching $6.01. 184,191 shares of the company were exchanged, compared to its average volume of 728,924. Synchronoss Technologies has a 52-week low of $3.90 and a 52-week high of $12.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.99.

In other Synchronoss Technologies news, Director William J. Cadogan bought 47,500 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was bought at an average price of $5.78 per share, for a total transaction of $274,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glenn Lurie sold 26,769 shares of Synchronoss Technologies stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $5.92, for a total transaction of $158,472.48. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 153,652 shares of company stock valued at $898,362. 34.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new position in Synchronoss Technologies during the third quarter worth about $171,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Synchronoss Technologies in the second quarter valued at approximately $258,000. Finally, Principal Financial Group Inc. raised its position in shares of Synchronoss Technologies by 2.4% in the first quarter. Principal Financial Group Inc. now owns 335,057 shares of the software maker’s stock valued at $3,535,000 after buying an additional 7,946 shares during the last quarter. Institutional investors own 10.97% of the company’s stock.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

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